Indian equity markets open flat; Axis Bank in focus ahead of Q1 results

Indian equity markets on Friday opened flat after ending two-day gain on Thursday.

BSE Sensex which had closed at 27710.52 yesterday, at 0928 hours was trading at 27755.86, up 0.16% or 45.34 points. While, at the same time, on National Stock Exchange, Nifty was trading at 8,518.05, up 0.09%, or 7.95 points.

On 30-share benchmark, among the top gainers were Bharat Financial Inclusion (5.88%), Biocon (4.73%), Finolex Cables (3.59%), PTC India (2.98%) and Edelweiss (2.82%).

On the back of rising bad loans, banking shares were trading weak. Among the top losers were Raymond (3.78%), Syndicate Bank (2.85%), Canara Bank (2.70%), Punjab National Bank (2.38%), Andhra Bank (2.23%).

Axis Bank, trading at Rs 534.70, down 0.66%, will be in focus as the bank is set to announce its financial results for the quarter ended on June 30.

The Indian rupee too opened flat at 67.18 per dollar as against previous close of 67.17.